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Carpetright signals concern over Brexit 'uncertainty'

Published 28/06/2016

Carpetright saw underlying pre-tax profit rise 33.1% to £17.3 million
Carpetright saw underlying pre-tax profit rise 33.1% to £17.3 million

Carpetright has added its name to the list of businesses sounding the alarm over Brexit, warning that consumer confidence could take a hit.

The retailer said that last week's vote could trigger "uncertainty" among shoppers, adding to warnings from the likes of Foxtons, EasyJet and British Airways.

Chief executive Wilf Walsh said: "The outlook has been further complicated by the outcome of last week's referendum and we are cautious about the impact the associated uncertainty will have on consumer confidence."

Carpetright made the announcement alongside full-year results, which saw revenue dip 1.3% to £456.8 million. Underlying pre-tax profit rose 33.1% to £17.3 million and like-for-like sales were up 2.8%.

But Mr Walsh added: "Trading conditions in the early weeks of the new financial year have been more challenging, against strong comparatives in the prior year and in a market which is increasingly competitive, particularly in the UK."

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